UIL Holdings (UIL)

250,000 shares plus the amount
of the Participant's unused Annual Limit relating to the same type of Award as
of the close of the previous year, subject to adjustment as provided in Section
10(c). In the case of an Award which is not valued in a way in which
the limitation set forth in the preceding sentence would operate as an effective
limitation satisfying applicable law (including Treasury Regulation
1.162-27(e)(4)), an Eligible Person may not be granted Awards authorizing the
earning during any calendar year of an amount that exceeds the Eligible Person's
Annual Limit, which for this purpose shall equal